27 Jan '14, 2pm

Citi Sees Capital Markets Reviving Renewables as Banks Bow Out

Eckhart’s comments cast a positive light on an industry whose funding is threatened by cuts in support for renewables from governments in the U.S. and Europe. Money managers are seeking investments that highlight their green credentials while offering an alternative to more volatile equities. “We’re going to see a multiplier effect as we scale up use of these mechanisms,” Eckhart said. “This is the beginning of a transition from bank loans and equity financings to refinancings in the capital markets for this industry. We talked about it three years ago. Now we’re doing the deals.” Banks in Europe, the U.S. and Japan reduced lending to clean-energy projects as the economic crisis took hold. While they’ll retain a role in the industry as they can take on project risks that institutional investors can’t sustain, capital markets will increasingly provide finance, Eckhart said....

Full article: http://www.renewableenergyworld.com/rea/news/article/2014...

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